Colombia GDP


Colombia: Economic growth speeds up in Q1

June 23, 2011

In the first quarter, GDP added 5.1% over the same quarter last year, which represented an improvement over the 4.8% expansion observed in the fourth quarter (previously reported: +4.6% year-on-year) and was slightly above market expectations, which had seen the economy growing 5.0%. The first quarter acceleration was primarily driven by domestic demand, in particular by a strong stockpiling compared with the same quarter last year. Total consumption grew 5.4% year-on-year in Q1 (Q4: +6.0% yoy), while growth in fixed investment decelerated from 13.8% in Q4 to 8.7% in the first quarter. Meanwhile, the external sector deteriorated somewhat over the previous quarter, as the 11.5% rise in exports (Q4: +9.1% yoy) was more than offset by a strong jump in imports, which climbed from a 16.2% increase in Q4 to a 21.4% expansion in Q1. As a result, the overall contribution from the external sector stepped down from minus 2.2 percentage points in the fourth quarter to minus 3.0 percentage points in the first. At the sector level, agriculture expanded 7.8% in the first quarter, overshooting a 3.5% increase in the fourth quarter. Industry grew 3.2% in the first quarter (Q4: +4.2% yoy) and services expanded 4.4% in Q1 (Q4: +4.9% yoy). A quarter-on-quarter comparison corroborates the strong growth seen in the annual data, as the economy added 1.88% over the previous quarter.


Sample Report

Looking for forecasts related to GDP in Colombia? Download a sample report now.


Colombia Economic News

  • Colombia: Inflation remains steady in June

    July 5, 2018

    According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.15% over the previous month in June, a smaller rise than the 0.25% month-on-month increase in May.

    Read more

  • Colombia: PMI shoots up to two-and-a-half year high in June

    July 3, 2018

    The seasonally-adjusted Davivienda manufacturing Purchasing Managers Index (PMI) climbed to 53.0 in June, up from 51.1 in May, which marks the highest result since January 2016.

    Read more

  • Colombia: Central Bank keeps interest rate on hold in June

    June 29, 2018

    At its 29 June Board of Directors meeting, Colombia’s Central Bank (Banco de la República, BanRep) unanimously voted to maintain the benchmark interest rate at 4.25%, following a rate cut by 25 basis points at its last meeting held in April.

    Read more

  • Colombia:

    June 19, 2018

    The Fedesarollo consumer confidence index shot up to 8.9 points in May from 1.5 points in April, moving further above the zero-point threshold separating optimism from pessimism among consumers.

    Read more

  • Colombia: Industrial production records stellar expansion in April

    June 15, 2018

    According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 15 June, industrial output expanded 10.5% over the same month of the previous year in April, contrasting a revised 1.2% year-on-year contraction in March (previously reported: -1.4% year-on-year). Looking at a breakdown of the data, 34 out of the 39 industrial activities recorded an upturn, while the remaining five categories registered a decline.

    Read more

More news

Search form